ESAF Small Finance Bank IPO opens today: Check live subscription details here

3 Nov 2023 , 12:30 PM

ESAF Small Finance Bank’s IPO, with a fundraising target of Rs 463 crore, commenced on November 3 with a price range set at Rs 57-60 per share, scheduled to conclude on November 7. Click here to subscribe the IPO.

The subscription status in the initial two hours revealed a 51% subscription rate, where the retail portion demonstrated high interest at 82%, followed by non-institutional investors at 48%. Simultaneously, the segment reserved for employees showed a 47% subscription rate.

However, as of the mentioned period, the qualified institutional investors are yet to fulfill their allocated portion, indicating their non-subscription to the offering.

The public offer comprises a fresh issue of 6.51 crore shares valued at Rs 390.7 crore and an offer-for-sale of 1.2 crore shares valued at Rs 72.3 crore. The promoters of ESAF Small Finance Bank are Kadambelil Paul Thomas and ESAF Financial Holdings Private Limited.